PLATFORM FEE
How Sebi action will impact profits of discount stock broking firms like Zerodha and Groww
Market regulator Sebi mandated in its July 1 circular uniform brokerage charges that are not based on volumes. Due to this, tech-first brokers are staring at impact on valuations. Platforms like Shoonya and Mstock charge zero brokerage fees, and they are bracing for impact from Sebi's instructions. Venture fund-backed startups like Groww, Upstox, Zerodha and listed discount broker Angel One will also have to start charging their customers.
Reliance Industries starts testing country's first smart television operating system
Reliance Industries is beta testing its Android-based Jio TV OS for a Diwali launch. Competing with Samsung and LG, it will run 4K TVs under BPL and Reconnect, announced by Akash Ambani. Licensing deals and JioCinema integration drive revenue. Jio TV OS is open source. Bug fixes are ongoing amid market trends showing a decline in small-screen TV demand.
Zerodha’s Nithin Kamath sees end of road for zero brokerage model after new Sebi rules
Exchanges often charge a lower fee to brokers if they generate high volumes. Brokers, in turn, charge traders little to no fees, which has contributed to a surge in trading across segments like derivatives that the Securities and Exchange Board of India wants to curb.
Major credit card rule changes of big banks that will come into effect in July: SBI Card, HDFC Bank, ICICI Bank, Citibank
New credit card rules: Many major banks have implemented significant modifications to the credit card services. Let's examine the important changes to credit card services offered by these major institutions, which will take effect in July.
Karnataka releases draft gig workers Bill; seeks comments from platforms, other stakeholders
Karnataka introduced draft Bill for app-based platforms to provide social security benefits to gig workers and sought public feedback. The Bill proposes fee on transactions and penalties for non-compliance. It aims to protect workers' rights and ensure basic social security. It is inspired by Rajasthan law and includes grievance redressal mechanism and prevention of illegal termination. the Bill promises welfare board, fund for gig workers. Discussions have been held with major platforms and International Labour Organisation for input.
66% of Indian consumers prefer to pay less in exchange for watching ads: Survey
The survey highlights evolving consumer preferences towards ad-supported streaming services in India, emphasizing the significance of tailored and relevant ad experiences. As consumers gravitate towards personalized ads and mobile streaming platforms, there is a growing need for streaming media companies to adapt their advertising strategies to meet changing consumer demands.
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ITR filing: Comparison of ITR filing charges across different websites: Cleartax, TaxBuddy, Tax2Win, KoinX, TaxNodes, TaxSpanner
ITR filing charges: This article compares the price of filing ITR across different third party websites like Clear, TaxBuddy, Tax2Win, KoinX, TaxNodes, Quicko and others. Filing of ITR is always free on the income tax department's e-filing ITR portal, however if you need any specialised assitance then you either need to hire a CA or use any of the third party websites.
Meta says it may block news from Facebook in Australia
Meta is considering blocking news content in Australia over licensing fees. The company awaits government decisions on fee regulations for tech giants, following similar actions in Canada. Agreements with Australian media may not be renewed, potentially impacting job cuts. Concerns arise over fraudulent ads and content moderation challenges within Meta.
PhonePe in talks with top smartphone brands to pre-install Indus Appstore
PhonePe launched its own Android-based app store, challenging Google's billing policy and commissions. It onboarded popular apps and gaming majors, offering zero listing and platform fees.
Nalanda University: Admission process, courses, eligibility, fees, international collaboration, and campus facilities
Prime Minister Narendra Modi inaugurated Nalanda University's new campus in Rajgir, Bihar, revitalizing its global academic heritage with a focus on sustainability. The institution now offers diverse programs across seven schools, including Buddhist Studies and International Relations. With international collaborations and state-of-the-art facilities, Nalanda University aims to uphold excellence in education, welcoming students through a competitive admissions process.
Double whammy coming for already struggling real gaming companies
Real money gaming companies like Dream11, Games24X7, and Mobile Premier League (MPL) face cost pressures with Google introducing service fees on Playstore listings from July 1.
CoinDCX launches CoinDCX Prime for HNIs, targets $100 million AUM by 2025
CoinDCX, a major Indian crypto exchange, launches CoinDCX Prime to cater to High-Net-Worth Individuals and institutions, targeting $100 million in assets by 2025. Prime offers tailored services, prioritizing compliance and personalized support, aiming to attract substantial investment.
Riot Platforms shares drop 9% after Kerrisdale Capital shorts bitcoin miner
Kerrisdale believes the introduction of low-fee bitcoin ETFs is more beneficial to investors over owning shares of a company such as Riot, which has seen a steady decline in bitcoin holding and production per share.
New RuPay credit card on UPI launched: Attractive reward points on online, UPI, offline transactions; lifetime free, other features
IndusInd Bank and Poonawalla Fincorp have launched a co-branded RuPay Platinum Credit card. This card offers reward points on everyday spending on e-commerce websites, including UPI transactions and point-of-sale machine transactions. It has no joining and provides benefits like movie ticket offers and fuel surcharge waivers. All you need to know about IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card.
Why Mukesh Ambani can't ignore a new consumer habit
Reliance Industries (RIL) chairman Mukesh Ambani is expanding the company's retail empire to include quick commerce services through JioMart. This move aims to compete with players like Blinkit and BigBasket, leveraging Reliance's extensive reach and resources. The shift towards quick commerce reflects changing consumer habits, favoring convenience and instant deliveries.
Who is BBC presenter Geeta Guru-Murthy? What is Nigel Farage Controversy?
This is not the first time that BBC presenter Geeta Guru-Murthy has hogged the headlines for the wrong reason. She was briefly taken off air in 2022 after using abusive language for Tory MP Steve Baker in an audio clip that went viral.
Karnataka HC upholds govt notification, caps service fee on app-based auto rides at 5%
Justice Suraj Govindaraj, while dismissing the petitions from the app-based aggregators, said the platforms were entitled to collect 5% service charge over and above the base fare fixed.
Taxi trips from Bengaluru airport via apps set to become costlier
The fee increase is happening as the agreements between cab companies Ola, Uber and BluSmart and the Bengaluru International Airport Ltd (BIAL) are up for renewal. The airport operator is paid a certain fee on every ride, as per these contracts. This charge is then passed on by the cab aggregators to their passengers as airport pickup fee.
Visa fee hike hits IT cos; Airport cab fares set to rise
Happy Friday! The hike in H-1B visa fee will hurt IT service companies severely, experts have warned. This and more in today’s ETtech Morning Dispatch.
UAE launches 10-year Blue Residency visa; here are all the details
The UAE has introduced a new 10-year Blue Residency visa for individuals who have made outstanding contributions to environmental protection, whether on land or in marine environments. Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, announced the visa, emphasizing the importance of sustainability in the country's future. Eligible individuals can apply through the Federal Authority for Identity, Citizenship, Customs, and Port Security.
Zomato hikes platform fee to Rs 5 per order; pauses intercity deliveries
The platform fee, which is a per-order flat charge, has been hiked in Zomato's main markets like National Capital Region, Bengaluru, Mumbai, Hyderabad and Lucknow. Sources said Zomato services 2.0-2.2 million orders per day, and a Re 1 increase for a large order base could add substantially to the company’s earnings over a quarter.
Zomato shares zoom 5% after a Re 1 hike in platform fee; halts intercity deliveries
Zomato's shares rose 5% to Rs 197.80 after raising its platform fee by 25% to Rs 5 per order. With 2.0-2.2 million daily orders, this increase could significantly boost earnings.
Alia Bhatt's absence on 'The Great Indian Kapil Show': Did payment issues lead to actress missing the episode? Here's the inside scoop
Alia Bhatt's absence from 'The Great Indian Kapil Show' has raised questions among fans, with rumours swirling about potential rifts or disagreements. However, reports indicate that her non-appearance was due to budget constraints and financial negotiations. The streaming platform hosting the show reportedly couldn't afford Alia's fee demands, leading to her absence despite efforts to accommodate her schedule.
Meta offers to cut Facebook, Instagram monthly fees to 5.99 euros
Meta Platforms has offered to cut a monthly subscription fee for Facebook and Instagram to 5.99 euros from 9.99 euros following discussions with regulators, a senior Meta executive said on Tuesday.
Zepto experiments with platform fees in profitability push
The firm is charging a platform fee of Rs 2 per order, over handling charges that can range between Rs 5 to Rs 20, depending on factors like order size, location and time of day. This is different from rival quick-commerce platforms like Zomato-owned Blinkit and Swiggy Instamart that only charge handling fees.
TikTok challenges EU supervisory fee, following Meta's footsteps
Under the Digital Services Act (DSA), 20 very large online platforms, including TikTok, Meta, Google, Apple and two very large online search engines are required to pay the annual charge. The size of the fee accounts for the average monthly active users for each company and whether it posts a profit or loss in the preceding financial year.
SoftBank sheds Paytm stake; NFT investors decry Rario shutdown
SVF Holdings (Cayman) Ltd, a SoftBank entity, sold 12.7 million equity shares of Paytm between December 19, 2023 and January 24, according to a stock exchange filing by SoftBank.
ETtech Explainer: platform fees on a platter
Increasingly, food-delivery companies such as Swiggy and Zomato are levying a platform fee for users as they are looking at these fees to optimise unit economics in their quest for profitability.
More startups want to ‘flip’ back to India; SoftBank’s returns from listed firms
Startups are moving their overseas holding entities to India ahead of their forthcoming public listings, especially in the fintech sector which is governed by the country’s central bank regulations.
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